New Delhi (India), 21st March 2023: Anant Goenka, managing director and CEO of tire manufacturer CEAT Ltd, announced on Monday that he would step down to concentrate on group activities and would be named the company’s vice chairman instead.
The company’s board announced that Arnab Banerjee, who is presently the Chief Operating Officer, has been named as both the company’s new MD and CEO.
According to a regulatory filing by CEAT Ltd. Goenka stated his wish to transfer control of the business to a successor in order to concentrate on group-level initiatives. As a result, he requested to be relieved of his responsibilities as MD & CEO of the company effective at the end of business on March 31, 2023, while remaining a board member.
Anant Goenka, the son of RPG Group Chairman Harsh Goenka, will now assume strategic roles at the group level for its upcoming phase of development, according to CEAT. He had been the CEO of the tyre manufacturer since April of 2012.
The succession plan calls for Arnab Banerjee to be appointed as managing director and chief executive officer for a two-year tenure beginning on April 1, 2023. Banerjee has over 30 years of executive experience, during which time he served for CEAT, Marico, and Berger Paints.
